GOODWILL (Notes)

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure

The following table sets forth the changes in the carrying value of goodwill by reportable segment for the period presented:


	EES		CSS		UBS		Total
	(In millions)
Beginning balance, January 1, 2025	$	799.3	$	1,347.0	$	1,133.8	$	3,280.1
Adjustments to goodwill for acquisitions	19.1		0.5		—		19.6

Foreign currency exchange rate changes	(0.2)		0.3		—		0.1
Ending balance, March 31, 2025	$	818.2	$	1,347.8	$	1,133.8	$	3,299.8

The components of intangible assets are as follows:


		As of
		March 31, 2025						December 31, 2024
	Life (in years)	Gross Carrying Amount (1)		Accumulated Amortization (1)		Net Carrying Amount		Gross Carrying Amount (1)		Accumulated Amortization (1)		Net Carrying Amount
Intangible assets:		(In millions)
Trademarks	Indefinite	$	789.7	$	—	$	789.7	$	789.7	$	—	$	789.7
Customer relationships	9 - 20	1,508.3		(497.7)		1,010.6		1,502.4		(476.4)		1,026.0
Distribution agreements	8 - 19	39.8		(28.5)		11.3		29.2		(27.7)		1.5
Trademarks	5 and 12	15.5		(12.3)		3.2		15.5		(11.7)		3.8
Software	7	16.0		(1.7)		14.3		16.0		(1.1)		14.9
		$	2,369.3	$	(540.2)	$	1,829.1	$	2,352.8	$	(516.9)	$	1,835.9

(1) Excludes the original cost and related accumulated amortization of fully-amortized intangible assets.

Amortization expense related to intangible assets totaled $22.2 million and $21.9 million for the three months ended March 31, 2025 and 2024, respectively.

The following table sets forth the remaining estimated amortization expense for intangible assets for the next five years and thereafter:


For the year ending December 31,	(In millions)
Remaining 2025	$	67.8
2026	85.4
2027	82.6
2028	80.9
2029	79.9
Thereafter	642.8
Total	$	1,039.4